Axa Wealth has launched a non-advised investment service aimed at clients of advisers that may be either unwilling or unable to pay directly for advice post-Retail Distribution Review, which it claims advisers can use to help retain low-value clients.
What to do with lower-value clients has been one of the major puzzles for advisers in the run-up to the Retail Distribution Review, with some saying they will have to cut swathes of clients loose and other saying they will retain low-value clients despite a possible impact on profits.
Designed to complement an adviser’s existing proposition, Axa said that its new Self Investor service is designed not only for clients who prefer to self-direct but also for those who cannot afford or do not want to pay for advice post-RDR.
As well as a landing page and co-branded website for managing investments, the service will also provide marketing support, manage direct mail and email campaigns, and produce literature on the adviser’s behalf.
Mike Kellard, chief executive officer, Axa Wealth, commented: “Our strategy is evolving fast, and we are continuing to explore new distribution channels that meet the changing demands of both advisers and their clients.
“The way clients engage with financial services is changing, as are the ways in which advisers do business.”
The company last week (9 August) appointed Ian Smith to lead Axa Self Investor’s distribution strategy.
